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06-29-2021, 09:15 AM #11
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Forum hint: If you're replying to a particular member, use the “Reply With Quote” next to “Reply” (as I have done here). The person to whom you are replying will receive a notification and it helps others know whom you are addressing. You can also tag using their user name and the "@" sign: @Michark0906. That will also generate a notification.
Now... As mentioned, this has been discussed any number of times on the forum - the search function is your friend. My wife found a very good description of extended service plans a while back (they are not warranties, but rather insurance policies with lots of fine print). They are another form of legalized gambling. The company is betting that nothing breaks that would cause them to pay out more than you paid for the policy; you're betting it will. As in all forms of legalized gambling, the house usually wins. Otherwise, these companies wouldn't be in business or make a profit. We prefer to set money aside regularly (earning interest) and pay for repairs as they come up.
RobU.S. Army Retired
2012 F350 DRW CC LB Lariat PS 6.7
2020 Solitude 310GK-R, MORryde IS, disc brakes,
Sailun LRG tires, solar, DP windows, W/D
(Previously in a Reflection 337RLS)
Full time since 08/2015
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06-29-2021, 11:06 AM #12
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Dave Ramsey and Clark Howard have commented on these plans many, many times.
The de-facto standard seems to be that 80% of extended warranty Revenue goes towards commissions and marketing. Only 20% goes towards paying for actual repairs, which means most people are getting a really bad deal.
My Ramsey inspired advice is to take that money you would have put into a service contract, and start a repair accrual account. Continue to put at least $100 a month into the account, and at the end of 48 months you will have $4,800 (or more) that will be yours until you spend it for repairs, as opposed to expiring and evaporating into the insurance companies pockets at the end of the plan.
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06-29-2021, 11:23 AM #13
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exactly what @Lane Hog just said. Plus, a lot of these repairs are minor and can easily be done ourselves. No waiting months for an appointment at the dealer and then leaving your rig there for weeks. If its something major or outside your comfort zone then you have the option of calling a mobile tech.
Steph & Lise
2019 F150 Lariat 2.7 EB
2020 Imagine XLS 22MLE
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06-29-2021, 07:30 PM #14
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- May 2021
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Did you buy an extended warranty? Should I?
Appreciate your input.
FYI, if you read the first sentence of what I wrote “thank you all” I was thanking everyone for their input, not just one person. It was a general thank you to everyone that had provided input into my question, thus not requiring a reply to a specific post. Further on if you read, I also spoke to my general decision made based on all the previous posts. Again not requiring a reply to a specific post.
I had searched the forum, and not found the answer to the specific question I had, thus I posted a new one with the specifics of what I had. It also would be a very confusing forum if people just kept commenting on the same 4 posts instead of creating news ones with more specific detail or context to the question being asked or discussion being had.
Appreciate you looking out, but it is a turn off to forum users when you have “forum police” shaking down people for no reason.Last edited by Michark0906; 06-30-2021 at 07:46 AM.
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07-03-2021, 02:33 PM #15
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I did not sign up for an extended warranty which entails an upfront cost, but I did sign up for their "Warranty Forever". No upfront cost or repair costs, the catch is that is has to be inspected once a year at a (current) cost of $162.00, which is how the dealer and the insurance company make their money. Want to drop out? Just don't have it inspected that year, and it is void.
In three years, they have replaced two "frozen" waste valves (one black, one gray), fixed the underbelly they had to cut into to replace the valves, and replaced two leaking propane hoses that I had no idea were leaking, which is kinda scary.
So far, so good.Last edited by hartcentr; 07-03-2021 at 02:49 PM.
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07-03-2021, 03:11 PM #16
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We bought a used rig and it came with the extended warranties. (We had to pay a small fee to transfer them). It worked well for the new pump for the leveling system. But the exterior coverage was a joke. We had clear coat start peeling from a single drop Of tree sap. Turned it in and the ins said not covered! The big print said everything was covered, the fine print said not so much. I am glad I didn’t pay $3000 for their lies
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07-03-2021, 03:45 PM #17
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My experience says no save the money. I had issues with the refrigerator in the first year so norcold replaced it after 8 weeks of pissing around without one. Central vacuum burnt up. No coverage on any hot wires.New awning over slides ripping out no coverage on any awnings. I bought my camper at Huntley Il..Told me I had bumper to bumper warranty. Just a crooked financial person selling me a bag of turds. No I stink with less money.
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07-03-2021, 04:14 PM #18
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07-03-2021, 09:25 PM #19
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I personally think this is an individual decision, as we’ve had 5 units and 4 warranties, and in the ones with the extended, it paid for itself in spades! I own a brand new 200MK and have the warranty on it as well,as I am now a widow, and while handy, have neither the know how, nor the patience to deal with issues like I’m dealing with now. Ours have paid for themselves over and over again…but it’s your decision.
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07-03-2021, 09:39 PM #20
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I think you misinterpreted Rob’s posting. It wasn’t directed at you personally or to shake anyone down.
I actually thought the description “Legalized Gambling” was pretty accurate. I say this as a former regional service manager for a BIG well known company. 3rd party insurance policies (aka “extended warranties”) are designed to make big commissions for the sales reps, big profits the selling company and are notorious for denying expensive repairs.Jerry & Linda
Emma & Abby our Mini Golden Doodles & JR our Amazon Parrot
2017 Reflection 337RLS, Build Date 01/2017, Titan Disk Brakes, Goodyear G614s 235/85/16 G Rated tires
2022 F-450 King Ranch Ultimate, 4,868 lb Payload, Bedrug Bedliner, Andersen Ultimate II Aluminum 5th wheel hitch
http://visitedstatesmap.com/image/FLGANCSCsm.jpg
Nightmare
Today, 05:32 AM in General Discussion